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Beware The ‘Acute,’ Multifaceted Seasonal Liquidity Drain
I've talked a lot about a challenging late-September seasonal for equities.
And I've talked a lot about the extent to which that seasonal might've been "pre-traded" this month.
More generally, September's the worst month of the year for US stocks, and if the post-Labor Day swoon was any indication, 2024 isn't likely to escape the curse.
In a Wednesday note, Nomura's Charlie McElligott illustrated the September back-half downtrade recurrence (and also the market's recent penchant for front-run
I would love to meet/talk with the person who sold last Thursday at closing, purchased Friday at closing, sold yesterday at closing and purchased this morning, after getting a late start (excusable, as they were probably up later than usual last night because they were watching the debate).
🙂
To be fair, nobody like that gets a late start.
Understood. I was being facetious. 🙂